14:19 ET Relative Strength : Stocks trading at or near highs of the day: SONS, PDLI, STLW, CORV, ONIS, ATK.
14:11 ET Kroger Co (KR) 24.33 -0.17 (-0.7%): Files shelf offering with the SEC for up to $1.5 bln worth of debt and equity securities.
13:49 ET Gemstar-TV Guide (GMST) 40 -0.40 (-1%): Dow Jones reporting today that GMST will announce an 18-month advertising pact with Ford (F) on Tuesday, supposedly for GMST's IPG forum. SG Cowen feels a deal with Ford, a more traditional advertiser, validates the strength of company's IPG forum.
13:22 ET Portal Software (PRSF) 6.28 +0.21 (+3.5%): Has been the subject of takeover speculation the last two days, with Amdocs (DOX) mentioned as the probable buyer. According to Reuters, PRSF has denied that it is talks to be acquired by DOX. While PRSF potentially not on the radar screen of Amdocs, there is speculation that the $500 mln raised in yesterday's convertible offering will be used for acquisitions. Prudential thinks Amdocs could be looking to purchase complementary software vendors including CRM, network management, and provisioning.
13:01 ET Homestore.com (HOMS) 30.30 -0.33 (-1.1%): In a mid-day note, Prudential says it views 9.5% sequential decline in April new home sales as marginally negative for HOMS; believes that realtors would be less likely to renew subscriptions and purchase new services from HOMS in a down real estate market; thinks company well situated to reap the benefits of migration online of real estate market, but firm will be keeping a close eye on housing stats over the next few months. |
